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San Diego Fourth Nationally For Startups

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San Diego Fourth Nationally For Startups

The San Diego-Carlsbad-San Marcos region ranks fourth nationally for startup entrepreneurial activity out of 40 major metro areas, in the new Kaufmann Foundation ranking on startup activity, up from 11th place a year ago. San Diego outranked New York, the Silicon Valley, San Francisco and other metro areas for startup entrepreneurial activity.

The Kaufman Foundation, which bases its rankings on startup density, entrepreneurship rates and other data, gave the region an entrepreneurship rate of 49%. According to the report, 490 of 100,000 adults in the San Diego-Carlsbad-San Marcos metropolitan area became entrepreneurs in a given month.

San Diego’s unemployment rate dropped to 3.8% in April, the lowest in 11 years, the California Economic Development Department reports. California’s overall unemployment was 4.5%, slightly higher than the national average of 4.1%. Total nonfarm employment increased by 1,100 jobs in April. Compared to a year ago, overall employment is up 18,200 jobs. The report said a job market this tight is usually followed by wage growth.